Home News Economic hardship: Kano traders slash prices of essential goods

Economic hardship: Kano traders slash prices of essential goods

by Maryam Olaniyi
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Traders

Traders of essential commodities in Kano State on Monday disclosed their resolve to reduce prices of their commodities.

Chairman of the marketers, Ibrahim Danyaro, disclosed the resolution of the marketers while addressing newsmen shortly after a meeting with the Chairman, Kano State Public Compliant and Anti-Corruption Commission.

This development followed the confiscation of 10 warehouses with hoarded assorted foodstuffs in the state by the Kano State Public Complaints and Anti-corruption Commission.

The commission’s chairman, Muhyi Magaji, said owners of the warehouses were nowhere to be found during the operation but those opened were stacked full of commodities, including spaghetti, rice, pasta, sugar, and other food items.

But Danyaro said the traders were currently selling their commodities in the market at a price less than the company prices.

He said the decision by the traders followed the public outcry over the soaring prices of essential commodities and the high cost of living in the country.

The market leader also vowed to assist the commission in fishing out bad eggs among those who are arbitrarily increasing prices of commodities and hoarding.

He said, “We are here to disassociate ourselves from hoarding. We have come forward to the commission with our pieces of evidence and the commission is convinced that we are not involved in hoarding.

“The rising prices of commodities which are recorded in the market was not arbitrarily done by our members. This development is brought about by the companies. And we suggested measures to address the situation at hand.

“One of them is for the commission to hold similar meetings with the manufacturers of these commodities to find out why the inflation of prices.

“We have expressed our resolve to cooperate with the commission to bring down prices of commodities to bring succour to the people. However, this, we can only do with the stocks we have at hand now. The prices we sold our stock in the market is not up to the current company prices.”

Another market leader, Hamisu Rabi’u, assured the residents of maintaining the old prices of the stocks at hand against the skyrocketing prices being experienced at various markets across the state.

“Take for instance, spaghetti that we sold at N11,500 or N11,700 in the market is now sold for N12,800 in companies. Sugar in the company is sold for N72,000 but we sold it N70,000. Rice is sold at N65,700 now but we sold it at 57,000 to 60,000.

“We will ensure that our stock at hand won’t go beyond the company prices for the sake of our people. We agree to run at a loss than to throw our people into difficulties”.

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